3M India Limited has informed the Exchange about General Update on Tax Litigations
3MINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.3 pts less than Nifty Midcap 150 and 0.4 pts more than its Diversified peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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3M India has received a final settlement order (Form 4) for tax disputes related to FY 2009-10 under the government's Direct Tax Vivad Se Vishwas Scheme 2024. The company has already paid the determined tax of Rs 7.16 Crores as part of this settlement. This follows the company's earlier decision to settle open tax litigations covering FY 2004-05 to FY 2013-14 under the same scheme. The disclosure was made under SEBI Listing Regulations, and the company has confirmed the settlement has no material impact on its operations or financial position.
This closure removes lingering uncertainty around an old tax dispute, but since the payment was already made earlier, it is largely a procedural non-event for shareholders. The stock is unlikely to react meaningfully, though the gradual clearing of legacy tax issues is a mild long-term positive for governance and balance-sheet clarity.